Rock & Roll Hall Of Fame Foundation Inc
- Assets
- $17.9m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 3
- Location
- th Floor, NY
- Founding
- 05/1986
- Data as of
- 06/2022
- EIN
- 13-3171867
Organization Overview
Rock & Roll Hall Of Fame Foundation Inc is located in th Floor, NY. The organization was established in 1986. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Rock & Roll Hall Of Fame Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rock & Roll Hall Of Fame Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Rock & Roll Hall Of Fame Foundation Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $8.7m during the year ending 06/2022. While expenses have increased by 9.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION AND STIMULATION OF ROCK & ROLL MUSIC AS A CULTURAL APSECT OF MODERN LIFE AND SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PRESERVE AND PROTECT HISTORICAL DOCUMENTS, RECORDS AND ARTIFACTS RELATED TO THE ROLL & ROLL MUSIC INDUSTRY AS WELL AS SUCCESSFULLY ESTABLISH A HALL OF FAME WHICH HAS DIRECTLY PROMOTED ROCK & ROLL AND ITS CULTURAL ASPECCT BY ANNAUL INDUCTIONS AND INDUSTRY ACHIEVEMENT RECOGNITIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Peresman President & CEO | OfficerTrustee | 40 | $513,462 |
John Sykes Chairman | OfficerTrustee | 1 | $0 |
Allen Grubman Secr./treas. | OfficerTrustee | 1 | $0 |
Jon Landau Executive VP | OfficerTrustee | 1 | $0 |
Michele Anthony Director | Trustee | 1 | $0 |
Irving Azoff Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $42,461 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $42,461 |
| Total Program Service Revenue | $3,521,460 |
| Investment income | $934,310 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $465,603 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,963,865 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,650,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $550,263 |
| Compensation of current officers, directors, key employees. | $55,026 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,327 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $29,272 |
| Payroll taxes | $13,811 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,038 |
| Fees for services: Accounting | $37,806 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $46,493 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $12,963 |
| Royalties | $0 |
| Occupancy | $78,424 |
| Travel | $3,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,370 |
| All other expenses | $0 |
| Total functional expenses | $8,702,841 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,669,355 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $606,391 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $280,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $10,327,023 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,882,769 |
| Accounts payable and accrued expenses | $23,150 |
| Grants payable | $0 |
| Deferred revenue | $4,900,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,923,150 |
| Net assets without donor restrictions | $12,353,228 |
| Net assets with donor restrictions | $606,391 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,882,769 |